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Dec 24, 2012
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the reason donors are concerned that a fiscal cliff deal could limit the tax deduction on charitable giving in the future. >> good day to you. is that the reason? i think people are worried they won't know what the deduction listen next we're, so front-loading the deduction this year. hopefully it's my wish they don't reduce it at all. >> let's look at some of the numbers. each year 300 billion is given to charity and claim about 50 billion a year in tax deductions. so when you look at some of the numbers, a person making about $too,000, they can deduct 35%. if that were to go down to 28%, how much do you think that would impact giving? >> you know, the estimate is anywhere between 1 and 30 billi billion, depending on how the deduction goes, and even if it's eliminated. it's hard to predict. one of the important things is this deduction han in place since 1917, and no one has ever touched it before. so we have no data on what's going to happen, but i think the americans, three quarters of the americans are concerned it will reduce the money to charity. >>> you know, if the country do
the reason donors are concerned that a fiscal cliff deal could limit the tax deduction on charitable giving in the future. >> good day to you. is that the reason? i think people are worried they won't know what the deduction listen next we're, so front-loading the deduction this year. hopefully it's my wish they don't reduce it at all. >> let's look at some of the numbers. each year 300 billion is given to charity and claim about 50 billion a year in tax deductions. so when you look...
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Dec 26, 2012
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on the fiscal cliff. that's not all, holiday spending also hit its lowest rate since the 2008 recession, which retailers are blaming on the uncertainty in washington. so where do we go from here? well, since the house failed to get a vote on the tax package last week, all eyes are on the senate. a temporary deal that would basically extend all the tax cuts for those making under a quarter million. the deal would also rescue long-term unemployment benefits and instead of addressing those automatic spending cuts we've all heard about that are set for january 1st, this temporary deal would delay them for another six months. few are optimistic this new plan, if we do go over the clifr, would work out. so what would half if we go over the cliff? the payroll tax holiday will expire on new year's day. that means most people will start paying more taxes in each paycheck. another 21 million americans would lose federal emergency unemployment benefits and those, let's remember, are people struggling the most right
on the fiscal cliff. that's not all, holiday spending also hit its lowest rate since the 2008 recession, which retailers are blaming on the uncertainty in washington. so where do we go from here? well, since the house failed to get a vote on the tax package last week, all eyes are on the senate. a temporary deal that would basically extend all the tax cuts for those making under a quarter million. the deal would also rescue long-term unemployment benefits and instead of addressing those...
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Dec 28, 2012
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. >> if an unemployment extension is not included in the fiscal cliff deal, 2.1 million americans will face an immediate loss in federal unemployment insurance. it will result in a cut of $284 a week for the average beneficiary. and that's a lot of dough for the average american. it's important to keep in mind the unemployment cliff is really a cliff, urban a slope. tax increases and other spending cuts will fall into place over time. but not with unemployment insurance. unemployment americans who rely on federal aid will be cut off on january 1st, 2013. however, there is some good news on the unemployment front. the four-week average of job claims dropped to roughly 356,000. it's the lowest level since march 2008. but unfortunately, the national unemployment rate is still 7.7%. and if republicans in congress fail to accuracy millions of unemployed americans will be off to a very rough start for the new year. for more on this let's turn to the reverend dr. haines iii, senior pastor at friendship west baptist church. dr. haines, welcome to the show. >> thank you, professor dyson. >> isn
. >> if an unemployment extension is not included in the fiscal cliff deal, 2.1 million americans will face an immediate loss in federal unemployment insurance. it will result in a cut of $284 a week for the average beneficiary. and that's a lot of dough for the average american. it's important to keep in mind the unemployment cliff is really a cliff, urban a slope. tax increases and other spending cuts will fall into place over time. but not with unemployment insurance. unemployment...
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Dec 24, 2012
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fiscal cliff. >> i think we're going to fall out of the fiscal tree. there will not be a big deal. >> reporter: confidence in any progress now at a minimum. lawmakers return from their holiday recess on thursday, and when they do, they will have their work cut out for them. reporting live in washington, i'm danielle leigh. veronica, back to you. >>> thank you so much. >>> the pentagon says the commanding officer of s.e.a.l. team 4 has died in afghanistan. 42-year-old joe w. price died saturday of what u.s. military officials are calling a noncombat injury. they tell nbc news his death is being investigated as a possible suicide. s.e.a.l. team 4 was part of a mission to train local afghan police to combat the taliban. >>> in the meantime in what is being called a possible insider attack, a civilian advisor was shot this morning by a woman wearing an afghan police uniform at kabul police headquarters. at least 53 international troops have been killed by afghan soldiers or police this year. >>> back here at home now, it is crunch time for holiday shoppers
fiscal cliff. >> i think we're going to fall out of the fiscal tree. there will not be a big deal. >> reporter: confidence in any progress now at a minimum. lawmakers return from their holiday recess on thursday, and when they do, they will have their work cut out for them. reporting live in washington, i'm danielle leigh. veronica, back to you. >>> thank you so much. >>> the pentagon says the commanding officer of s.e.a.l. team 4 has died in afghanistan....
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Dec 29, 2012
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struggle to reach a deal to avert the fiscal cliff, for a larger deal along the lines laid out by the simpson bowls commission is a part of the past that is a disappointment, the key architect of the fix the debt campaign and maya mcginnis. thanks for being with me on this saturday, maya. >> thank you. >> am i right in suggesting that even if a deal is fixed it would be far too small for your liking. >> you are right. the immediate pressing task is to not hurl the country over the fiscal cliff and i disagree it wouldn't be a problem if we went over it, and i worry that the ramifications of going over the cliff could be quite severe, not just that tax increases would be put in place because realistically at some point zee to come to terms with the fact we need to raise revenues and we'll have to raise taxes in one way or another and the point is that the fiscal cliff is a way that we would put a ton of economic damage in the economy and a lot of uncertainty about whether washington can govern. but just as important or using that fiscal cliff and not going over it and using that moment
struggle to reach a deal to avert the fiscal cliff, for a larger deal along the lines laid out by the simpson bowls commission is a part of the past that is a disappointment, the key architect of the fix the debt campaign and maya mcginnis. thanks for being with me on this saturday, maya. >> thank you. >> am i right in suggesting that even if a deal is fixed it would be far too small for your liking. >> you are right. the immediate pressing task is to not hurl the country over...
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Dec 24, 2012
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we did deal with the fiscal cliff issues. we have passed that. it's harry reid and the president that have yet to come up with something. if it was so easy, if they thought they had a solution to it, why didn't on friday they come to the table and actually pass something? the pressure is on them, what can they pass in the senate? >> harold, you know the politics of this but you also know the mark. is there a new pessimism we're not going to get a deal and not going to solve these issues anyway? >> big disappointment. people outside of washington understand clearly. a couple hundred billion over ten years separating both sides. the question becomes can washington still govern itself? two, there's a realization we're in the middle of a small recovery. if we find ourselves not able to resolve this moment, it retards and slows and undermines what we see ourselves doing going forward. finally, for the life of me as someone who 0 served there, it was so distressful to watch both sides yell at each other. i feel sorry for speaker boehner. i've seen some
we did deal with the fiscal cliff issues. we have passed that. it's harry reid and the president that have yet to come up with something. if it was so easy, if they thought they had a solution to it, why didn't on friday they come to the table and actually pass something? the pressure is on them, what can they pass in the senate? >> harold, you know the politics of this but you also know the mark. is there a new pessimism we're not going to get a deal and not going to solve these issues...
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Dec 24, 2012
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, the impact is as unlikely as immediate as the term "fiscal cliff" seems to imply. the expiration of the tax cuts with a $2200 average tax high. the payroll tax cut would also expire meaning another $40 a paycheck and long-term unemployment benefits would end for 2 million americans. while these elements could have a recession-inducing effect, they could undo those measures shortly after the first of the year. estimations are if we do go over the cliff it would be the third quarter which the recession may hit. when be look at the issue of a -- the markets, however, may feel the brunt of the fiscal cliff fallout. the dow fell on friday after the deal failed the night before. last week fitch warned it may downgrade the u.s. credit rating if congress cannot reach a deal. some lawmakers are angling for the best political outcountry. >> when i listen to the president, i think he's eager to go over the cliff for political purposes. he gets all this additional tax revenue for new programs, gets to cut the military which democrats have been calling for for years, and he get
, the impact is as unlikely as immediate as the term "fiscal cliff" seems to imply. the expiration of the tax cuts with a $2200 average tax high. the payroll tax cut would also expire meaning another $40 a paycheck and long-term unemployment benefits would end for 2 million americans. while these elements could have a recession-inducing effect, they could undo those measures shortly after the first of the year. estimations are if we do go over the cliff it would be the third quarter...
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Dec 29, 2012
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and the fiscal cliff deal, and are we going to get it done? we will talk to three top lawmakers and they are not in washington yet. and you have been hearing about the movie "django unchained" and the tarantino film has sparked controversy and also a feud between two top directors. and you will get some alex witt this weekend, because she talked to lester holt about what he got dragged into doing on his thanksgiving vacation. and also a lot of people ringing in the new year, and there are going to be issues with snow. s causing issues with people returning back home after the holidays. get ready. we'll have all that. so yes, melissa, good to see you this weekend. >> thanks, t.j. as t.j. might say, don't sleep on our legendary foot soldier who still inspires us all. by t? by the barrelful? the carful? how about...by the bowlful? campbell's soups give you nutrition, energy, and can help you keep a healthy weight. campbell's. it's amazing what soup can do. your doctor will say get smart about your weight. that's why there's glucerna hunger smart
and the fiscal cliff deal, and are we going to get it done? we will talk to three top lawmakers and they are not in washington yet. and you have been hearing about the movie "django unchained" and the tarantino film has sparked controversy and also a feud between two top directors. and you will get some alex witt this weekend, because she talked to lester holt about what he got dragged into doing on his thanksgiving vacation. and also a lot of people ringing in the new year, and there...
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Dec 26, 2012
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. >>> there's still no deal to stop the looming fiscal cliff. but what happens to you if we go off the cliff? for the average american making between $50,000 and $75,000, you see a tax increase of $2,399. making between $100,000 and $200,000 a year, your tax increase is about $6,700. and on december 29th, 2 million americans will lose their unemployment benefits. i want to bring in jared bernstein, msnbc contributor and former chief economist and economic policy adviser to vice president joe biden. that's just some of the details as you so well know here but let's remind ourselves, though, of this word that we have been using. that was termed by mr. bernanke. he called it a cliff. but really -- >> right. >> it is like falling down stairs, isn't it? >> right. more so a staircase or a slope in the sense that some of the damage you just described actually takes a while to arrive and if congress is able to quickly reverse the cliff dive, it could be more and i have heard folks use this, more of a bungee yump to get back up to the cliff. >> at the en
. >>> there's still no deal to stop the looming fiscal cliff. but what happens to you if we go off the cliff? for the average american making between $50,000 and $75,000, you see a tax increase of $2,399. making between $100,000 and $200,000 a year, your tax increase is about $6,700. and on december 29th, 2 million americans will lose their unemployment benefits. i want to bring in jared bernstein, msnbc contributor and former chief economist and economic policy adviser to vice...
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Dec 26, 2012
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just days ago he looked to avoid a fiscal cliff. will a deal get done? a newspaper under heavy criticism now for publishing the names of local gun permit legal local gun permit holders online. details on that are next on n "news nation." e reached the age where you don't back down from a challenge. this is the age of knowing how to make things happen. so, why let erectile dysfunction get in your way? talk to your doctor about viagra. 20 million men already have. ask your doctor if your heart is healthy enough for sex. do not take viagra if you take nitrates for chest pain; it may cause an unsafe drop in blood pressure. side effects include headache, flushing, upset stomach, and abnormal vision. to avoid long-term injury, seek immediate medical help for an erection lasting more than four hours. stop taking viagra and call your doctor right away if you experience a sudden decrease or loss in vision or hearing. this is the age of taking action. viagra. talk to your doctor. ♪ [ male announcer ] it started long ago. the joy of giving something everything yo
just days ago he looked to avoid a fiscal cliff. will a deal get done? a newspaper under heavy criticism now for publishing the names of local gun permit legal local gun permit holders online. details on that are next on n "news nation." e reached the age where you don't back down from a challenge. this is the age of knowing how to make things happen. so, why let erectile dysfunction get in your way? talk to your doctor about viagra. 20 million men already have. ask your doctor if...
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Dec 24, 2012
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. >>> we start with optimism as a last words that comes to mind with the fiscal cliff and with just a week left for talks left, la lawmakers are saying a deal is looking less likely than ever. >> it's a first time i feel it's more likely that we'll go over the cliff than not. and that -- if we allow that to happen it will be the most coloss colossal, consequential act of congressional irresponsibility in a long time. maybe ever in american history because of the immaterial pact on almost every single american. >> what will happen to an average american paycheck in a deal is not reached by january 1st? joining me now, washington bureau correspondent hampton pearson. let's see what the average american will or won't be seeing in their pi check. >> reporter: i'm here for the lump of coal portion of the program. if there's no deal, let's look at what happens to tax rates in just seven days and these stats are from the tax policy center. the annual income from somebody in the $50,000 to $75,000, about a $2,400 increase. jumping ahead to $100,000 to $200,000, the average tax increase, $6,60
. >>> we start with optimism as a last words that comes to mind with the fiscal cliff and with just a week left for talks left, la lawmakers are saying a deal is looking less likely than ever. >> it's a first time i feel it's more likely that we'll go over the cliff than not. and that -- if we allow that to happen it will be the most coloss colossal, consequential act of congressional irresponsibility in a long time. maybe ever in american history because of the immaterial pact...
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Dec 31, 2012
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partisan ranker and frustration all around, we've arrived at the fiscal cliff. the senate, which was expected to hold an up and down vote on a final bare bones budget deal last night wasn't quite able to make it happen. harry reid gave us problem or lack thereof. >> there are two sides still apart, and negotiations are continuing as i speak. there's still more before we can bring ledges laying to the floor. what else is new? can anyone save this congress from itself? turns out the new man responsible is vice president joe biden. yep. that's right. joe biden is the latest person to be called on to try to get congress out of the straight jacket they've put themselves in. the vp and senate minority leader mitch mcconnell exchanged phone calls until midnight last night and again this morning, and appeared to be zeroing in on a tax rate compromise in the region of a $450,000 to $550,000 threshold. a higher rate than the president's earlier compromise as well as an agreement on the estate tax. sticking points remain. president obama seemed resigned to going over the c
partisan ranker and frustration all around, we've arrived at the fiscal cliff. the senate, which was expected to hold an up and down vote on a final bare bones budget deal last night wasn't quite able to make it happen. harry reid gave us problem or lack thereof. >> there are two sides still apart, and negotiations are continuing as i speak. there's still more before we can bring ledges laying to the floor. what else is new? can anyone save this congress from itself? turns out the new man...
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Dec 28, 2012
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listen, this fiscal cliff deal, everyone is so sick of hearing the phrase. i it talked to several this week, members of congress and members of the senate who indicate we're going over the cliff. they say it won't be that bad. don't worry about it. there's something in me that wonders about the psychological impact of just going right over. >> mike, you're right. they are saying that, and there's a real risk especially in the white house. they know that the reaction of the markets, especially overseas, the credit raters is unpredictable. you don't want to start your second term with a double-dip recession. that's the real risk here. for republicans more and more you hear them saying and i think this is what you're refer to here. you hear them saying, let's just wait until people get their first paycheck. wait until they get that pay economic when there's less withheld and there's not a payroll tax holiday but then they want tax relief. it's a huge risk. another political game at play here. sherman has a great story on the sight right there giving the thought
listen, this fiscal cliff deal, everyone is so sick of hearing the phrase. i it talked to several this week, members of congress and members of the senate who indicate we're going over the cliff. they say it won't be that bad. don't worry about it. there's something in me that wonders about the psychological impact of just going right over. >> mike, you're right. they are saying that, and there's a real risk especially in the white house. they know that the reaction of the markets,...
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Dec 27, 2012
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if not for the so-called fiscal cliff debate they're trying to strike a deal on. that would be also on other legislation that would come up with 113th congress. democrats want to ensure they have 55 votes when the 113th congress begins on january 3rd. >> senior political editor mark murray for us on this thursday, appreciate it, sir. >> thank you, craig. >>> outrage of russian president vladimir putin's decision to sign a bill to block americans from adopting russian children and a video of a squarm bursting in a shopping mall. details on that story around the "news nation." [ male announcer ] eligible for medicare? that's a good thing, but it doesn't cover everything. only about 80% of your part b medical expenses. the rest is up to you. so consider an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement plans, they pick up some of what medicare doesn't pay. and save you up to thousands of dollars in out-of-pocket costs. call today to request a free decision guide to help you better unde
if not for the so-called fiscal cliff debate they're trying to strike a deal on. that would be also on other legislation that would come up with 113th congress. democrats want to ensure they have 55 votes when the 113th congress begins on january 3rd. >> senior political editor mark murray for us on this thursday, appreciate it, sir. >> thank you, craig. >>> outrage of russian president vladimir putin's decision to sign a bill to block americans from adopting russian...
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Dec 31, 2012
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on the fiscal cliff. i think that's going to be another thing he looks at. >> now, a couple of things you mentioned in there. immigration reform, maybe corporate tax reform. what we saw in the first term, largely, was sort of intractability, that the president proposed things, health care, economic stimulus got three republican votes, one of whom, arlen specter, was no longer -- became a democrat by the time the election happened. are these things post-election things that republicans can get behind? because we just had an election and here we are, you know, a month and a half later, and we're at the same place with the fiscal cliff that i feel like we were six months ago! >> yeah, well, we've been here, done this, but i think it is possible, i think immigration reform, because it's good for everybody politically as well as for the country. but you know, the frustration i think is this all -- the republicans should have captured this message day one of obama's presidency. they should have said, no, not he
on the fiscal cliff. i think that's going to be another thing he looks at. >> now, a couple of things you mentioned in there. immigration reform, maybe corporate tax reform. what we saw in the first term, largely, was sort of intractability, that the president proposed things, health care, economic stimulus got three republican votes, one of whom, arlen specter, was no longer -- became a democrat by the time the election happened. are these things post-election things that republicans can...
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Dec 27, 2012
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. >> so a top story today, one of the ledges of the fiscal cliff, those automatic spending cuts that almost certainly are going to kick in. we don't see that being part of some last-second deal. hit the defense department. but the pentagon's real problem is not those cuts, but the ones that are going to be coming over the next decade. we talked to military contractors, top officials at the pentagon. they see a long period of downward decline. that after the war in afghanistan, there's going to be a period of austerity. they're calling it -- they have a term around the pentagon, a very graphic self-amputation as they cut back over the years. and this was one of the reasons that president obama had, at the top of his short list, the former republican senator, still a republican, chuck hagel of nebraska. he's somebody who's talked about the pentagon as being bloated, had very specific ideas about how to cut it. but mike, sam, the table, we're hearing that that trial balloon has been popped. that senator hagel has a possibility for secretary of defense, has really lost a lot of altitude.
. >> so a top story today, one of the ledges of the fiscal cliff, those automatic spending cuts that almost certainly are going to kick in. we don't see that being part of some last-second deal. hit the defense department. but the pentagon's real problem is not those cuts, but the ones that are going to be coming over the next decade. we talked to military contractors, top officials at the pentagon. they see a long period of downward decline. that after the war in afghanistan, there's...